Techub News reports that, according to CoinDesk, Florida Republican Congressman John Snyder submitted HB 1039 on January 7th, proposing the establishment of a strategic cryptocurrency reserve fund outside the state treasury, and authorizing the Florida Chief Financial Officer (CFO) to manage cryptocurrency investments within a specified risk management framework.
The bill calls for the creation of an independent audit mechanism and advisory committee, and revives the core concept from the 2025 withdrawal bill, allowing up to 10% of the state's fund to be allocated to Bitcoin. The proposal does not specify a minimum allocation ratio but grants the CFO the discretion to decide whether and when to deploy funds.
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Techub News reports that, according to CoinDesk, Florida Republican Congressman John Snyder submitted HB 1039 on January 7th, proposing the establishment of a strategic cryptocurrency reserve fund outside the state treasury, and authorizing the Florida Chief Financial Officer (CFO) to manage cryptocurrency investments within a specified risk management framework.
The bill calls for the creation of an independent audit mechanism and advisory committee, and revives the core concept from the 2025 withdrawal bill, allowing up to 10% of the state's fund to be allocated to Bitcoin. The proposal does not specify a minimum allocation ratio but grants the CFO the discretion to decide whether and when to deploy funds.